Salesforce Update: Vlocity Acquisition, Co-CEO Keith Block Stepping Down and More…

Salesforce economy is definitely booming and set to register another phenomenal quarter ahead. The world’s biggest CRM-maker for Marketing, Sales and Commerce has announced big updates this week.

The big updates are:

Salesforce will acquire Vlocity for $1.13 Billion. 

Vlocity is a three-time Forbes Cloud 100 winner and strategic Salesforce ISV. It currently delivers industry-specific cloud and mobile software that embed digital, omnichannel processes for customer-centric industries.

David Schmaier, CEO & Founder, Vlocity wrote on his official company blog. David said,

“With today’s news, the voice of the customer just magnified. The best customer experiences are industry-specific. Together, our customers, our partners and our employees have accomplished so much. I am thrilled about our future with Salesforce.”

He added, “Upon the close of the transaction, Vlocity – this wonderful company that we, as a team, have created, built, and grown into a transformational solution for six of the most important industries in the enterprise – will become part of Salesforce.”

The Salesforce acquisition deal will further disrupt the Cloud Software industry. The latest acquisition deal comes within weeks of Salesforce acquiring Evergage, an omnichannel Martech-focused Personalization software provider.

Co-CEO Keith Block Exits.

Salesforce co-CEO Keith Block is stepping down. The company announced Marc Benioff is Chair and CEO of the company. Keith Block will remain an advisor to the CEO.

At the time of stepping down from CO-CEO position, Keith said,

“It’s been my greatest honor to lead the team with Marc that has more than quadrupled Salesforce from $4 billion of revenue when I joined in 2013 to over $17 billion last year. We are now a global enterprise company, focused on industries, and have an ecosystem that is the envy of the industry, and I’m so grateful to our employees, customers, and partners. After a fantastic run, I am ready for my next chapter and will stay close to the company as an advisor. Being side-by-side with Marc has been amazing and I’m forever grateful for our friendship and proud of the trajectory the company is on.”

Marc Benioff expressed his gratitude for Keith’s service at Salesforce. Marc said, “I am especially grateful to Keith for his service to Salesforce over the last seven years. I am delighted that he will be staying on as an advisor to me. Keith’s strategic thinking and operational excellence have deeply strengthened our company, and our close friendship endures. I am Keith’s biggest supporter as he creates the next chapter of his storied career. He will always be part of our Ohana.”

Salesforce Reports Q4 Revenue at $4.85 billion.

Salesforce also announced that its revenue is up by 35% YoY, reporting QR revenue of $4.85 billion.  The total Fiscal revenue for 2020 is pegged at $17.9 Billion. This is 25%-up YoY.

Salesforce as One of the World’s Most Ethical Companies

Ethisphere Institute has recognized Salesforce as one of the world’s most ethical companies. The list includes among 130 global companies chosen for the designation in a year with a record number of nominations for the award.

This is the 11th time Salesforce has appeared on this elite list of companies.

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